Commentary – New Mexico’s Senior Citizens deserve a tax break and they would receive one under a new measure proposed by Rep. Gail Armstrong (R-Magdalena). House Bill 477 (HB 477) would allow senior citizens to claim up to $24,000 in Social Security Income without being forced to pay state taxes. If passed, HB 477 could mean a tax break of hundreds of dollars every year for senior citizens on a fixed income.
“Our senior citizens deserve a break,” said Rep. Armstrong “they are so important to our communities and state that we should do all we can to support them. So many of our senior citizens make the choice to live in New Mexico and volunteer in our communities and we shouldn’t be over-taxing their limited income.”
Currently, New Mexico is one of only 13 states that tax senior citizen’s social security. To date, House Democrats have not scheduled HB 477 for a hearing.